The three parties jointly released the "Looking ahead for the work of the Next Decade”at the 8th China-Japan-ROK Leaders Summit in 2019, in which China and Japan will bring their complementary advantages into play, actively cultivating new momentum and growth points, and building a new type of China-Japan economic cooperation relationship. Under the attention of the Chinese Embassy in Japan and the Japanese Embassy in China, Zhaotai Group and Sumitomo Corporation have actively responded to the national call to actively push forward the Sino-Japanese (Chengdu) Urban Construction and Modern Service Industry project and the Sino-Japanese Local Development Demonstration Zone Cooperation project to be implemented.

In the afternoon of 18th of March of 2021, Zhaotai Group and Sumitomo Corporation signed a comprehensive strategic cooperation agreement at Crowne Plaza Beijing Chaoyang U-Town. The two parties agreed to start a comprehensive cooperation in the fields of urban development, commercial facility operation, property management, Sino-Japanese trade, Sino-Japanese modern service industry/ Sino-Japanese cultural and creative industry, and hydrogen energy.

Sumitomo Corporation was founded in 1919 with a capital of 169.4 billion yen. Its tocks are listed in the stock market of Tokyo, Osaka, Nagoya and Frankfurt. Ranked 231st on the Fortune Global 500 with a global revenue of $43.57 billion in 2019, the company is a Large-scale integrated business with approximately 150 locations, nearly 900 subsidiaries and affiliates and more than 60,000 employees in more than 70 countries worldwide. Its main business sectors include metals, transportation equipment, engineering machinery, chemicals, electronics, livelihood-related industries, resources and energy. Sumitomo Corporation (China) Ltd was established in China in 1995.

Prior to the signing of this cooperation agreement, Zhaotai Group and Sumitomo Corporation had worked together to facilitate the signing of several major Sino-Japanese cooperation projects. In November 2020, the collective signing event of the Sino-Japanese (Chengdu) Urban Construction and Modern Service Industry Open Cooperation Demonstration Project Cooperation Promotion was held in Chengdu. During the event, the cooperation between Zhaotai Group and Sumitomo Corporation played a key bridge role, ultimately leading to the signing of 15 Sino-Japanese cooperation projects.

Across spectacular waters, gathering together to carry on the friendship between China and Japan. Making a difference in the wide world to expand the blueprint of the times to work together for mutual benefits. As a result of the signing between Zhaotai Group and Sumitomo Corporation, both parties will give full play to their respective advantages, combine their respective business strategies, join their resources with the principle of good faith and sincerity, and make efforts together for the expansion and value-added efficiency of both parties. Through its continuous and in-depth cooperation with Sumitomo Corporation, Zhaotai Group will set a good example for business exchanges between China and Japan , and build a bridge for the mutual cooperation between China and Japan.